Why are bank frauds rising in the UK

Bank fraud in the UK has risen to such an alarming level that it's come to national attention. Hey and thanks for tuning in, Holly Shields here for Kalkine Media.

*PSR revealed that between July and September this year, they received over 4400 complaints about scams and fraud, which upheld more than 60% in the consumers’ favour.

*According to the Financial Ombudsman service, one-third of the authorised scam complaints that it has received are about customers ordering online who have not received the goods and services.

*Recently, the PSR announced that the UK Treasury will introduce new laws to provide the mandatory reimbursement for scam victims, as currently victims receive reimburse if banks decide to do so.